BLACKPINK contract renewal | YG Entertainment issues a statement regarding the contractual status of the group
YG Entertainment might have bowed to netizen pressure finally, as they released a statement regarding the contract situation with BLACKPINK
Blinks demanded that YG Entertainment show transparency during the ongoing contractual issues between the agency and members of BLACKPINK, and now they have it - somewhat. With rumours continuing regarding the future of the K-Pop group, with the news also this morning that Jennie has trademarked the term Jennie Ruby Jane (the name she used when she appeared in the HBO Series, ‘The Idol’) YG Entertainment has finally issued a statement regarding the matter.
In a short statement to media outlets across South Korea, YG Entertainment simply explained “We are negotiating with the artists regarding their exclusive contracts. The final outcome will be revealed through the document regarding major management issues related to investments."
It is the level of transparency that Blinks and netizens wanted YG Entertainment to employ after the rumours three members of the group were looking to form their own solo agencies first started picking up traction around late September 2023. Since the initial rumours that three members were looking at exploring their options as their contract renewals were coming up, we’ve seen Rose spotted with Columbia Records CEO Ron Perry and a number of cryptic posts from the group themselves.
With the reveal that Jennie has trademarked the term across ten different categories in South Korea, did that force YG Entertainment’s hand to make an announcement? The wording of management issues related to investments seems ominous - understandably, the agency would want to keep the back catalogue of BLACKPINK, if that is the investment issue.
But in an era where artists can pull off a ‘Taylor’s Version’ of previous releases, perhaps YG Entertainment should be cautious as to what those major issues are related to the investments. Unless, of course, the agency believes that BLACKPINK themselves are the investment rather than the recording, marketing and promotion of the band. That potentially would not sit well with netizens, as seen previously when Super Junior member Kyuhyun revealed shocking details about his past experiences with SM Entertainment including being requested to get cosmetic surgery on his eyelids - demonstrating just how ardent agencies can be with their ‘investments.’